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>> i think it has to do with the election and things like that. look at last five years. i was just looking at numbers ending september over the five years. the s&p's done 1% annualized. bonds are up almost 5.8% annualized. i believe in reversion to the mean. i think stocks are going to have their day. i think that's what's coming. i think the market will work well over the next several years. you saw the minutes today. looks like we're going to have an accommodative fed. >> i want to talk about fundamentals here. where are you on this? you want to be buying or selling? >> i think over the long term, meaning once we get into '13, the equity markets will be good. in here, we're due for a correction. our economy has slowed down and quantitative easing really can't provide the equity markets and help draw them higher. i think the fundamentals are going to have a correction and maybe the high cash flow stocks will be taken to high single-digit levels. >> it's amazing what has happened in some of these large, global economies. we've been hearing preannouncements and guiding of
>> i think it has to do with the election and things like that. look at last five years. i was just looking at numbers ending september over the five years. the s&p's done 1% annualized. bonds are up almost 5.8% annualized. i believe in reversion to the mean. i think stocks are going to have their day. i think that's what's coming. i think the market will work well over the next several years. you saw the minutes today. looks like we're going to have an accommodative fed. >> i...
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Oct 5, 2012
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. >> they want to slow the economy before the election. if you don't believe that, then i have a bridge i want to sell you in brooklyn. that is what the republican obstructionists in congress have been about. you can create excluses for thee guys if you want, but the fact of the matter is every single jobs bill the republicans in congress have voted against. >> carly, what do you say to that? >> wow. you know, first of all, i thought the democrats couldn't get much lower when harry reid took to the floor of the u.s. senate and accused governor romney of not paying taxes for ten years. last week, nancy pelosi implied that there was no security at the embassy in libya was because the republicans had employed cuts in that area. they understand the economy is not helpful to them. i would remind the governor that the republican congress has spent many, many job creating bills to the democratically controlled senate and harry reid has refused to let them get to voted on. >> governor romney, the consensus is he came out ahead in the debates. do y
. >> they want to slow the economy before the election. if you don't believe that, then i have a bridge i want to sell you in brooklyn. that is what the republican obstructionists in congress have been about. you can create excluses for thee guys if you want, but the fact of the matter is every single jobs bill the republicans in congress have voted against. >> carly, what do you say to that? >> wow. you know, first of all, i thought the democrats couldn't get much lower when...
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was it the election last night? what's going on? the debate, rather. >> europe has been driving the market for months. ever since draghi made his comments, going back two months, we've seen confidence flowing back into equities. we've removed the downside risk for markets. i think that's continued. i think people have got confidence back from last week and we're seeing a number of, you know, good reports of pick up in china and stuff which is all helping to create a positive tone. >> so you do believe the tail risk is not as bad as it was, or you think we've seen solutions for europe? because it's hard to believe that we're seeing, you know, an overnight success there and sort of a real fundamental change. >> there's no doubt. we're not out of the woods in europe. what is very clear from what draghi said over the last couple of months is, you know, merkel is behind him. rooer t we're trying to make sure there's no huge meltdown, and there's a huge amount of political impetus to make sure we avoid any catastrophe. it's clear to us th
was it the election last night? what's going on? the debate, rather. >> europe has been driving the market for months. ever since draghi made his comments, going back two months, we've seen confidence flowing back into equities. we've removed the downside risk for markets. i think that's continued. i think people have got confidence back from last week and we're seeing a number of, you know, good reports of pick up in china and stuff which is all helping to create a positive tone....
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of course spain is trying to put this decision off past the regional elections. somebody is going to get hit here fairly badly. maybe even the prime minister himself. what's attractive specifically? >> so what's attractive is the fact that you have someone with a big printing press buying these bonds, which is the ecb. as long as you recognize that there has to be an exit, either through maturity or through market liquidity or through someone else buying them, then the bonds that fall in that category are attractive because, remember, the ecb has made it very clear. it believes there are two excessive risk premiums in the price of spanish bonds. one is a convertibility risk. the other is a financial fragmentation risk. they are committed to reducing that premium, which makes certain bonds attractive. >> here in the united states, you recommended tips, which is you buy a treasury, except it's protected from inflation. the house is worried about inflation. how badly? >> we are worried. we think if you are to look over a period of three to five years, inflation is m
of course spain is trying to put this decision off past the regional elections. somebody is going to get hit here fairly badly. maybe even the prime minister himself. what's attractive specifically? >> so what's attractive is the fact that you have someone with a big printing press buying these bonds, which is the ecb. as long as you recognize that there has to be an exit, either through maturity or through market liquidity or through someone else buying them, then the bonds that fall in...
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Oct 3, 2012
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of all the debates together along with the chronological orders as we get closer and closer to the election. that hawill have a big impact wh rates and fiscal cliff issues. when it comes to the fed, all the moves were in anticipation. if you go back and look at the august meeting and how the s&p acted, the dow acted, the weakness in the dollar index, and maybe most of all the rally in mortgages, which could have been the most telegraphed easy trade for the big dogs in the fixed income fund market of all time. but today's adp might have been better, sequentially lower. it doesn't make a different to employment. i have yet to see any research that says qe anything does. >> all right. thank you, all. good to see you. thanks for your thoughts today. appreciate it. >> thank you. >> all right. we're in the final stretch. we have a mixed market for the most part. >> i don't care what you got planned for the afternoon. stick around. we are just getting started on this very busy wednesday edition of the "closing bell." watch. >>> coming up, downloading a dividend? what will apple do with its huge wa
of all the debates together along with the chronological orders as we get closer and closer to the election. that hawill have a big impact wh rates and fiscal cliff issues. when it comes to the fed, all the moves were in anticipation. if you go back and look at the august meeting and how the s&p acted, the dow acted, the weakness in the dollar index, and maybe most of all the rally in mortgages, which could have been the most telegraphed easy trade for the big dogs in the fixed income fund...
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mixed news is coming out despite francois hollande's pre-election metric. he is committed to reducing the budget deficit to 3% next year and signing into law the fiscal compound which would prevent france balancing its budget over the medium term. the concern with france at this point is closing the budget gap by raising taxes and to address issues about competitiveness and getting more people to employment in france they have to reduce taxes and labor taxes which are among our highest in the world and it would see how they are going to do that without public spending and that is something that has been reluctant to do. they have some time to turn that around. liz: lowering taxes improve the picture is what i am hearing you say. thank you for joining us. david riley of sovereign rating saying the triple the-credit rating for spain will remain the same even if they ask for a bailout plan. we are 16 minutes from the closing bell. walmart, target, bed bath and beyond. the want to get a read on their health? head to cleveland where real-estate investment trust
mixed news is coming out despite francois hollande's pre-election metric. he is committed to reducing the budget deficit to 3% next year and signing into law the fiscal compound which would prevent france balancing its budget over the medium term. the concern with france at this point is closing the budget gap by raising taxes and to address issues about competitiveness and getting more people to employment in france they have to reduce taxes and labor taxes which are among our highest in the...
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the election in the united states, whether you are a supporter of the president or mitt romney, it really doesn't matter. we're going to have somebody is going to be running this country on the first wednesday of november. ashley: you say you've never seen a time when investors are so cranky. what do you mean by that? >> well, think of this, ashley. the markets are up mid teens for the year. this is like a party that nobody was invited to when you think about it. that's because the general mix are really not overly invested in the market. they've gone much more defensive. we see that in the weekly flows into bond mutual funds out of equity funds. and the numbers are staggering. since 2007 the cumulative totals exceed a trillion dollars into bond funds, yet the net outflow is out of domestic equity funds are approaching almost $600 million -- $600 billion, excuse me. ashley: but they're cranky, but they're also fearful, aren't they, of this fiscal cliff and a government overspending which many see as a huge, huge worry. wouldn't you agree? >> right. and the likelihood of our prolific frien
the election in the united states, whether you are a supporter of the president or mitt romney, it really doesn't matter. we're going to have somebody is going to be running this country on the first wednesday of november. ashley: you say you've never seen a time when investors are so cranky. what do you mean by that? >> well, think of this, ashley. the markets are up mid teens for the year. this is like a party that nobody was invited to when you think about it. that's because the...